RWE Innogy Announces Changes to its Executive Board (Germany)

At its meeting on 24 January 2012 the Executive Board of RWE AG appointed Hans Friedrich Bünting to succeed Fritz Vahrenholt as CEO of RWE Innogy GmbH as of 1 July 2012.

Hans joined the RWE Group in 1995 and held various management positions in RWE Energie AG, RWE Trading GmbH and RWE AG before he became a Member of the Executive Management of Innogy in 2008 and was appointed as the company’s CFO.

As of 1 July 2012 Fritz Vahrenholt will become Member of the Supervisory Board of RWE Innogy, which is due to be constituted. Fritz has been CEO since RWE Innogy GmbH was founded in 2008 and has been playing a key role in expanding the Renewable Energy business at the RWE Group during the recent years.

Dr. Leonhard Birnbaum, Chief Commercial Officer at the RWE AG Executive Board: “Fritz has made RWE more sustainable and he positioned RWE Innogy as a driving force for future technologies in Germany and Europe. At the same time, he has made an outstanding contribution to the RWE Group overall. We would like to thank Fritz for his exceptional commitment as CEO of Innogy. We are delighted that he will continue to contribute his expertise to this key strategic business for RWE in his future role as a Member of the company’s Supervisory Board and maintain his commitment to our Group!”

Dirk Simons will become the new CFO of RWE Innogy, also on 1 July 2012. Dirk is currently Chief Financial Officer of RWE Transgas in the Czech Republic and simultaniously Head of Finance at RWE East. He has been with RWE since 1995. Before becoming CFO of RWE Transgas Dirk held various management positions in the departments of finance, controlling and commercial management at various Group companies including RWE AG, RWE Energie AG, RWE Energy AG and RWE Key Account GmbH.

Axel Gerhardy will succeed Dirk Simons as CFO of Transgas and Head of Finance at RWE East. Axel is currently Head of Participation Management, Organisation & Processes at RWE East. He has been working for the Group since 1996 and held management positions at RWE AG and RWE Energy AG before joining RWE East.

 Leonhard Birnbaum: “Hans and Dirk are two outstanding managers. We are delighted to be in a position to offer them new challenges in the RWE Group. These two executives have been familiar with RWE for many years and they contribute comprehensive operational experience to their new functions. This is particularly important today while we are operating Renewable Energy as a growth area with complex international projects which will play a key role in the future of our Group. Axel has also known RWE for a very long time and he has worked in a number of different positions. He will make good use of his experiences from operations at RWE East in his new position.”

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Offshore WIND staff, January 25, 2012